{
  "id": 9324330,
  "title": "15-year prison term sought for Kakao founder in SM stock case",
  "url": "https://urgent.news/2026/09/23/15-year-prison-term-sought-for-kakao-founder-in-sm-stock-case-9324330",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-23T11:37:03.000Z",
  "source": {
    "name": "The Korea Times",
    "slug": "the-korea-times",
    "url": "https://www.koreatimes.co.kr/southkorea/law-crime/20260923/15-year-prison-term-sought-for-kakao-founder-in-sm-stock-case"
  },
  "original_language": "en",
  "account": "Prosecutors are seeking a 15-year prison sentence and a fine of 500 million won ($370,000) for Kakao founder Kim Beom-su in connection with a case involving SM Entertainment's stock price. The charges stem from an alleged attempt to inflate SM's stock price during a 2023 takeover battle for the K-pop agency. Additionally, prosecutors are requesting a 12-year prison term and a 500 million won fine for Bae Jae-hyun, Kakao's former chief investment officer. Both individuals, as well as Kakao and Kakao Entertainment, are accused of keeping SM Entertainment's share price above the tender-offer price in February 2023 in order to obstruct the rival company's acquisition attempt. The prosecution claims that the lower court improperly assessed evidence and misapplied the relevant legislation, and urges the appellate court to overturn the decision.",
  "summary": "Prosecutors sought a 15-year prison term for Kakao founder Kim Beom-su, Wednesday, during an appeal over his alleged involvement in inflating SM Entertainment's stock price during a fierce 2023 takeover battle for the K-pop agency. In a final hearing at the Seoul High Court, prosecutors asked the court to sentence Kim, head of Kakao’s Future Initiative Center, to 15 years in prison and impose a…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "The Korea Times",
        "title": "15-year prison term sought for Kakao founder in SM stock case",
        "url": "https://urgent.news/2026/09/23/15-year-prison-term-sought-for-kakao-founder-in-sm-stock-case",
        "published": "2026-09-23T11:12:03.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}